UPDATE 2-Australia's Crown Resorts posts flat H1 profit as Chinese stay away [Reuters]
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UPDATE 2-Australia's Crown Resorts posts flat H1 profit as Chinese stay away | Reuters 2 Min Read * Crown H1 profit A$194.1 mln vs A$192.4 mln previous year * “VIP” turnover down 12.2 pct * Shares down 5.4 pct (Recasts to include Chinese tourists, shares) SYDNEY, Feb 20 (Reuters) - Australia’s biggest casino operator Crown Resorts Ltd posted a flat first-half profit on Wednesday as gambling turnover from wealthy Chinese tourists declined, sending its shares lower. Normalised net profit, which removes the variance in win rates, was A$194.1 million ($139 million) for the six months to December, less than 1 percent higher than the same period the previous year, the company said in a statement. The result included a 12.2 percent decline in turnover from visiting VIP customers, largely gamblers from China, on package holidays. The company is counting on the VIP market to pay for a new A$2.2 billion casino on the Sydney waterfront. “Crown’s Australian operations’ first-half result reflected
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